Considering or mandating a full-time return to the office for your employees? You are not alone. Many businesses want to get their employees back under one roof – be that for data or information security purposes, or to foster innovation and collaboration.
But be warned. In a recent survey*, 40% of UK workers said that if their employer did not make some level of home-working available, that they would look for another job because of the financial implications of returning to the workplace full-time. And while 1 in 10 would call in sick because they cannot afford to travel, 35% said they did not earn enough money to travel to work.
This is not about the flexibility or convenience of working from home; it is about the money in their back pocket each month, and ensuring that struggling employees do not have to put themselves in debt just to hold down a job.
But what if you can’t (or don’t want to) continue with home-working arrangements for your staff? With the average employee saving £100 a week on their commute during lockdown, giving every employee a £5,000 net pay rise is simply not feasible for many employers.
There are ways that you can soften the blow for your staff and protect their financial wellbeing, through clever initiatives to help them reduce or cover the cost of their commute – potentially at no cost to your business – or even saving some money in the process.
Why are we talking about this?
PayDashboard are the technology company linking employee financial wellbeing to payday. We believe that employees should be given the tools that they need to understand their pay (and in turn, their payslip) as well as their taxes and allowances by their employer at a time when it really matters. Which is why we provide a suite of financial education to our users alongside their digital payslip, helping them to understand their pay at the time when money is most on their minds, and reducing the number of employee queries to HR and Payroll teams in the process.
Agree with us? To celebrate National Payroll Week this September we are sharing daily employee education guides about common problem areas like payslip terminology, understanding your tax code, and more. Once signed up, you will receive on guide per day for the duration of the week. Sign-up for your guides here.
Want to improve the financial wellbeing of your employees? Book a demo of PayDashboard to see how we enable over 16,000 UK businesses to deliver a better payday experience, without having to change their HR/payroll software, all through the process of producing a payslip.
*1,000 employees currently working from home but with an imminent return to the workplace (part of full time)